Story perspectives
African Startups Secure $2.2B Amid Funding Decline
1/9/2025
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Story summary
- African startups secured $2.2 billion in 2024, marking a 25% decrease from 2023's $2.9 billion.
- Kenya topped the funding chart with $638 million, followed by Nigeria at $410 million and Egypt at $400 million.
- Moniepoint and Tyme Group joined the unicorn club this year.
- East Africa led in funding with $725 million, while Northern Africa experienced a notable decline.
- Investors increasingly prioritized climate tech and sustainable solutions.
